Bergen, Norway-headquartered seafood firm Lerøy Seafood Group posted nearly 25 percent higher operational EBIT and 12 percent higher revenues in the first quarter of 2025 compared to the same period a year ago thanks to increased harvest totals and market demand.
Lerøy’s operational EBIT in the period totaled NOK 1.05 billion (USD 100.9 million, EUR 90.2 million), and revenues amounted to nearly NOK 8 billion (USD 768.5 million, EUR 687.1 million).
Delivering the seafood group’s Q1 2025 results on 15 May, CEO Henning Beltestad said the EBIT total was a “good performance.”
“There’s been a strong start to the year,” he said. “[There’s] strong demand in the end markets, positive development in emerging markets, strong positioning with strategic customers globally, and the effects of structural improvements really starting to work in our different operations. Our expectation is for a continued positive profitability trend in 2025. I feel that we have a really strong position in all our key markets and a team that's really focused on building the markets and the category for seafood.”
In the quarter, Lerøy’s Farming segment achieved revenues of more than NOK 3.2 billion (USD 307.3 million, EUR 274.8 million), which was up from NOK 2.5 billion (USD 240.1 million, EUR 214.6 million) in Q1 2024. Its operational EBIT was NOK 789 million (USD 75.8 million, EUR 67.7 million) versus NOK 576 million (USD 55.3 million, EUR 49.5 million) previously.
It harvested 38,243 metric tons (MT) during the quarter, marking an increase of 11,867 MT year over year...
